Borrower's quote

My name is Bobojon and I raise cattle. This activity allows me to take care of my loved ones. In winter, the price of livestock feed increases and it is very difficult for me to get it. I am therefore applying for a loan to buy feed for my livestock.

Economic and social context

Tajikistan

Considered to be the poorest region of the former Soviet Union, the development of Tajikistan relies heavily on loans via microfinance, particularly in the rural areas of the nation.

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

This loan does not pay any interest to the lender.

The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.

100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.

The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.

The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.

More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.

The MFI

HUMO

Summary

HUMO is a microfinance institution in Tajikistan. Established in the east of the country where the majority of the population is concentrated, the institution has a dozen branches spread over the rural areas of the country. The institution serves a little over 13 000 clients by means of loans which are mainly distributed to groups of borrowers wishing to develop agricultural activities (livestock farming and sales, cultivation of various products) or small businesses (mainly market vendors or cottage industries).

What is Microfinance

The transfer and hosting of funds on MicroWorld are made via the payment service solution MANGOPAY, edited by the company Leetchi Corp SA, as approved issuer of electronic money authorized by the CSSF.

MicroWorld edited by ABC Microfinance is registered as Intermediary in Crowdfunding to ORIAS under the n°17005376.